International Paper Company, Nine Dragons Paper Holdings, WestRock Company, and Smurfit Kappa Group, among others are the major players in the global corrugated boxes market.
The global corrugated boxes market reached a value of about USD 185.2 billion in 2020. The industry is further expected to grow at a CAGR of about 4.6% in the forecast period of 2021-2026 to reach a value of around USD 242.6 billion by 2026. As per the analysis by Expert Market Research, the market is expected to be driven by the trend of online shopping.
Manufacturers are designing corrugated boxes in many shapes and sizes to make the packaging unique and appealing. It has prompted e-commerce giants like Flipkart and Amazon to make extensive use of them for storage and shipment. These boxes can print photorealistic images, which aids in effective marketing and promotion of products among consumers. Consequently, they are frequently used in shelf-ready packaging (SRP) and retail-ready packaging (RRP). These developments are expected to help the industry grow. Increased R&D activities to upgrade and improve the chemical resistance, dimension stability, and other properties of corrugated boxes are diversifying its applications. Glassware and ceramics, food and beverages, chemicals, paper, textiles, electronics, personal care, and household products all use the product. In the coming years, increased demand for the product in end-use industries is likely to propel market growth.
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Recycled corrugates are expected to have the most significant market share in 2020. Their widespread use in the packaging of lightweight products such as consumer electronics, cosmetics, and fast-food items can be credited for the segment's growth. The food and beverage industry has the largest market share based on end-use. It has several advantages, including lightweight, structural rigidity, and a cushioning effect. The Asia Pacific region is expected to be the world's leading market, accounting for most of the global market share.
Headquarters: Memphis, Tennessee
International Paper is a leading global manufacturer of renewable fibre-based packaging, pulp and paper products with manufacturing operations in Europe, North America, Latin America, North Africa, and Russia. The company produces corrugated packaging products that promote and protect goods and enable worldwide commerce; pulp for diapers, and other personal hygiene products that promote health and wellness; papers that facilitate communication and education. The company employs more than 50,000 employees in about 150 countries.
Headquarters: Hong Kong, China
Nine Dragons Paper Holdings Limited is a paper manufacturing company in Mainland China, engaging in the manufacturing of containerboard products, including duplex board, liner board, and pulp. The company is the largest paperboard producer in Asia and one of the largest in the world in terms of production capacity. It has nine factories in Vietnam and China. It also owns paper mills in the United States. The company employs more than 15,000 employees and produces about 5.25 million tons of paper products annually.
Headquarters: Atlanta, Georgia
WestRock is a corrugated packaging company based in America. It was established in July 2015 after the merger of RockTenn and MeadWestvaco. WestRock is the second-largest American packaging company. It is one of the world's leading packaging and paper companies with USD 15 billion in annual revenue and over 42,000 employees in 30 countries. The company specialises in sustainable packaging, healthcare packaging, merchandising displays, corrugated boxes, paperboard boxes, and automated packaging systems, among others.
Headquarters: Dublin, Ireland
Smurfit Kappa Group is Europe's leading corrugated packaging company and one of the leading paper-based packaging companies in the world. The company has approximately 46,000 employees in over 350 production sites across 36 countries, with a revenue of USD 8.5 billion in 2020. The company specialises in recycling, integrated production, containerboard, solid board, graphic board, packaging, and forestry operations, among others.
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